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... the stuff ... a judge allows KMX to resuming California effective August eighteen will out that I'm much much more ... right here right now on the news of the ... public good afternoon and welcome I'm Simon Constable ... joining on the side Volvo crime and SB Johns thanks gentlemen ... great to be back with ... a slightly new ISP what exactly is good news to pull the country Canada ... writes so well last week that federal judge in California ... overturn proposition eight proposition eight was the ... The of the voter initiative the past two dozen eight which ... banned same sex marriage in California ... last week that was overturned ... the judge today said he was going to ... basically allow them a gay marriage resuming California ... on the ATP had steed his opinion last week ... now he said he still lifted as of next week they didn't give any reasons why he might have gone up in a change his mind as it was and ... what what will the team that that the calculus really do want to give them the parties but ample time to submit paperwork on whether or not he should stay the ruling pending an appeal which could have taken have extended the stay for five or six months ... I haven't seen the water my understanding is that ... it would have to do her to fall to find something like this ... is to say that there's a probability of success up for the people asking for this day so I guess that ... it wasn't that surprising given he was the one who ruled the property was unconstitutional ... didn't think the likelihood success was too great ... so of overturned state today than somewhere like lead and to begin ... conducting marriage ceremonies between same sex partners on the team that's that's the presumption that ... gets on last in this is a bigger less ... than Next scored the next court tonight circuit comes in unless the defendants go to them and say ... we want you not to overturn the original ruling made last week but to overturn this ruling on this day ... to come in and say noted in an old pulled off ... or did it were to keep everything on ice until we get a chance to take a larger look at the show I'm sorry ... but no award given given that did you know there's essentially no risk to St ... you what let's extend this a little bit longer isn't the presumption that ... the appeals process is going to be given an opportunity to run its course ... it's it's it's it's a fair point at the same time the plants in the case of say look ... every day that the stay is not listed here is ... a constitutional harm is being committed ... against those people who can't marry so that's that's this or that ... are good both sides said they can appeal this oil to the Supreme Court if they can they possibly can they want to do that is what I did it they need to be the cleanest right now are in store the cap or seek to raise do anything they got the ruling in the back pocket ... it sets the defendants now the supporters of proposition eight ... we need to then move to get this the ninth Circuit ... and endowed doubling get the Supreme Court possibly depending on the way the ninth Circuit roads and tunnels am so we honestly looking up two of the defendants up to be doing on this one fighter in much Ashby Jones although Wall Street on to grasp these Pall posts on the on the low blood now it's time for Paul beanie with a mock its upbeat earnings on the site now on the left port then the market's kind of ugly if you like maybe the yes but I will not go yesterday but no it's still ugly ... and that's really that's the thing there was no bounce back in the stock market from a big selloff yesterday ... Dow was down about sixty years and you cannot sit ... in the SNP deepening which try to look at the trial that ... the bill and its fifty day moving average Conover Telefónica's other with ease key technical markers ... that sets up tomorrow to the potentially ugly again ... depending on what you get in risk appetite seems as though it's well with the ... dollar and a lot this doesn't continue issuance in the last few days ... the Fed cut at the two in the towel on the economy the admitted that it can be weaker and don't start to see this now in jobless claims this morning the number was in high as two thousand up to forty four ... combine the ITC getting year to five hundred thousand should be gone close to four hundred thousand is going in the wrong direction ... that just kind added to ... this whole theeuro thing today ... and you know we've been watching the volume angle you wrote about this yesterday we were talking about ... the wall of the market makers ... and how they seemed to really step back from this market everybody saying ... volumes like because it's August which of course the useless inventions which is partially true but it does seem as though ... the market's very functioning isn't really taking place the way ... you really should or should be a little one fatality this market ... well I mean ... ten seconds ... I guess you're right thanks Brightkite I live for many women at the time of the top ... at eleven I would not image on by Phil Izzo is a Wall Street don't use of a home economist just out on the common saying that one policymakers to back off ... before we get to my which is interesting what else to become the site of the awesome pretty gloomy outlook on the economy inflation but ... generally pretty much everything was lower than was lax ... they see their forecasts for growth lower than was last month the scene ... modes are not everything's lower the unemployment rate I ... was in line for an redoubling ... their forecasts for jobs were down ... this month from last month ... so we generally things are ... you know ... we still see recovery we still but it's even slower than was before we worry about how slow was to begin ... an entity pushing it further and further out I mean your story ... mentions that economists now I'm not looking for jobs ... a real re ignition of of of job growth ... until June two thousand and eleven ... it's that they see a still around still around nine percent by June next year and that's when that was up there is a very long so I wanted Bring in untended we Seasons chief economist overextended and was given York City ... and dented somewhat when asked about this economist one policymakers to back off is that something that you wanted you think it's the right thing to do ... I think we determined that on fiscal policy we can continue to run one point four trillion dollar deficit so much as we'd like some more fiscal stimulus I just don't think we can afford it ... OK and Dan is probably to do with it the deficit problem that has been so much spending on that debt to GDP ratio is so high it is is that what you worried about ... a deftly you to what happened in Greece ... we'd only get into that kind of position ... China was in a position to do fiscal stimulus because they started with a big surplus ... in two thousand while we could do big fiscal stimulus because we started with the surplus ... here we were running record deficits before the recession started ... at DaVita's s Still story points out some economists insist ... that in fact there's not enough that in the government this juncture ... where we could ... actually cut enough to try and stimulate the economy ... that way do you side with that opinion or do you believe ... that there's both a political will ... and the ability to stimulate the economy through deficit reduction ... the number one I don't think there's any political will ... whatsoever ... in terms of ability he would be very difficult because to get meaningful reductions in long-term deficit requires tackling entitlements ... that means cutting health care Medicare ... and cutting Social Security I don't see anybody in Washington promoting that ... not now feel this is a change from bull which had in the sun and the pass in the past the so they've ... been GPU conduct president of economists saying guess we need more stimulus from the government and states act now a single stop the bats well with Chancellor this ... is this discussion between jobs and ... and ... and government debt ... and ... you know in the most recent surveys don't Apple we were in the depth of it ... they were saying yes you do need stimulus the last couple of months they've been as it is more worried about the thefts ... um but the same time we ... do see these these terrible job numbers and that we have to wonder where are those jobs with ... asthma cutting the deficit where those jobs could come to an end and yet they did all the bills until same economists ... don't want these tax cuts to expire ... isn't there some income grew in their arguments lovely ... of good for most of them ... who said that they don't want tax cuts to expire did say that should be temporary and that for medium to another year of the year and a half ... tool recovery really takes hold ... keep them in place ... don't start pulling back now ... give it a little bit more time and then we'll deal with autumn and anyway spike in David you decide that one of the Proms with the business community to some uncertainty about regulations how can the government summit ends on Sunday with a minute today ... but we helped if they pass tough last year ... when they were starting to argue about this ... but today you have Democrats were unable to get organized to do it ... now there's just so much healthier than spending nobody share with you it's going to passing out without an election coming up ... the business community is just living dead all waiting for Congress to make up its mind as to what the rules are going to be ... planted and tended to ... come to shell out of the facial Indexes signed the buzz about a fifty fifty chance of ... another recession idea double dip when you think about QQ by that ... I don't put that I think probably more like twenty five percent that there's a lot can go wrong a slow recovery is a fragile recovery ... this is a very fragile recovery ... how can walk by Graham much they really such an economist at Standard Poor's in New City ... and thank you Phil Izzo and Bob O'Brien I'm Simon Qassam on that's it ... that's our show ... that's the new supper tonight comeback eight thirty tomorrow with Kelly and slept all the news you need to know before the opening bell Abbott great night ...